About Erik Townsend

hedge fund manager Erik Townsend

Erik Townsend is a retired software entrepreneur turned hedge fund manager. Throughout his career, Erik has capitalized on his ability to understand complex systems and anticipate paradigm shifts far in advance of the mainstream. Read More...

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YuskoSniderGromenfinalErik Townsend welcomes Jeffrey Snider, Mark Yusko and Luke Gromen to MacroVoices. In part 3 of the 5 part series, Mark Yusko and Luke Gromen present: 

  • U.S. Dollar Cyclical Pattern
  • Looking at the Dollar Technicals
  • Is there room for one more rally?
  • Gold and the Oil for Yuan Plan
  • Impacts to Emerging Markets
  • Demographics, Deflation and Lower Rates
  • Welcome to Multi-Polar FX World
  • China and Russia’s end-game strategy

We strongly recommend that you download the chart book that accompanies this interview, as they will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (51.88 MB) | Download the podcast transcript:   pdf Here (708 KB)

YuskoSniderGromenfinalErik Townsend welcomes Jeffrey Snider, Mark Yusko and Luke Gromen to MacroVoices. In part 2 of the 5 part series, Jeffrey Snider presents:

  • The post 2007 U.S. Dollar shortage
  • How does the dollar scarcity play out?
  • Problems facing China at the moment
  • Considerations on China’s gold buying
  • Is a RMB crypto currency possible?
  • Do American politicians even know there is a problem?
  • Dollar short squeeze not a U.S. Dollar bull
  • Global De-dollarization

We strongly recommend that you download the chart book that accompanies this interview, as they will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Click here to register for access to supporting materials.


Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (57.16 MB) . | Download the podcast transcript:   pdf Here (698 KB)

YuskoSniderGromenfinalErik Townsend welcomes Jeffrey Snider, Mark Yusko and Luke Gromen to MacroVoices. In part 1 of the 5 part series, Jeffrey Snider presents:

  • Overview of the big picture story
  • Perspectives on where we are today
  • Bulls vs. Bears (nobody wins)
  • Bank of Russia operations in FX repo auctions
  • Brazilian Real and the US dollar funding
  • China’s management of the US dollar
  • The evolving Chinese response

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Juliette will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Click here to register for access to supporting materials.


Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (61.71 MB) | Download the podcast transcript:   pdf Here (709 KB)

PROFESSOR STEVE KEEN headshotErik Townsend welcomes Prof. Steve Keen to MacroVoices. Erik and Steve discuss:

  • Reflecting on the 2008 crisis
  • What is going to go wrong with the current credit cycle
  • False narratives around QE and bank reserves
  • Where is the risk to correction in asset pricing?
  • Walking dead of debt and the zombies to be
  • Considerations on Japan, Canada and China
  • How long does this debt cycle last?
  • Will the next crisis be more wide spread?

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Steve will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

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Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (71.11 MB) | Download the podcast transcript:   pdf Here (628 KB)

Juliette DeclercqErik Townsend welcomes Juliette Declercq to MacroVoices. Erik and Juliette discuss:

  • US Economy Late in the Cycle
  • China’s Macro Landscape
  • Where is Inflation Heading?
  • Caution on equities 2018
  • Direction for 10year Bonds
  • The US Yield Curve and Potential Recession
  • When has the Fed gone too far?
  • Changing of the guard at the FED
  • USD bearish outlook

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Juliette will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, you will see the download link(s) and will be able to download the PDF document(s).

Click here to register for access to supporting materials.


Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (64.20 MB) | Download the podcast transcript:   pdf Here (375 KB)

Marin Katusa OfficeErik Townsend welcomes Marin Katusa to MacroVoices. Erik and Marin discuss:

  • Saudi Arabia Politics
  • The power shift in the Middle East
  • Petrodollar and the Yuan oil contract
  • Considerations on American oil
  • Understanding the OPEC and Russia relationship
  • Saudi Aramco IPO
  • Future of electric vehicle market
  • The outlook on uranium
  • Understanding global uranium enrichment
  • Future of Russia and Vladimir Putin

Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (67.44 MB) | Download the podcast transcript:   pdf Here (635 KB)

Filia HeadshotErik Townsend welcomes Francesco Filia to MacroVoices. Erik and Francesco discuss:

  • Measuring the equity bubble
  • Measuring the bond bubble
  • What could be the catalyst be for the reversal?
  • Fake market narrative
  • Chasing narratives and global growth
  • Positive feedback loops
  • ETFs and their impact on the markets
  • Systemic risks from funds not just banks
  • Considerations on European junk bonds
  • S&P values vs. share buybacks
  • Risks to the market from the short VOL trade

SPECIAL POSTGAME GUEST: The Macro Tourist Kevin Muir discussing bonds, inflation and the coming collapse of the short VIX trade. 

 We strongly recommend that you download the chart book that accompanies this interview, and Erik and Francesco will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, click “Research Library” and Guest Publications near the top of the page. From there you can download the PDF.

Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (72.13 MB) | Download the podcast transcript:   pdf Here (607 KB)

Keith McCullough headshotErik Townsend welcomes Keith McCullough to MacroVoices. Erik and Keith discuss:

  • Bullish narrative on equities 
  • Valuation is not a catalyst
  • Trends in growth and inflation
  • Where are we in the economic cycle
  • Global economic divergences
  • Growth acceleration puts a lid on market multiples
  • Earnings considerations
  • Considerations on technology valuations
  • Long/short strategies

    We strongly recommend that you download the chart book that accompanies this interview, and Erik and Keith will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register.  Once logged in, click “Research Library” and Guest Publications near the top of the page. From there you can download the PDF.

Get embed code for this episode | For other embed code options click here | Download the audio MP3 File (56.83 MB) | Download the podcast transcript:  pdf Here (712 KB)

JeffreySniderEurodollar University 02 bErik Townsend welcomes back Jeffrey Snider to MacroVoices. Erik and Jeffrey discuss:

  • Bastardization of money
  • Failure of Primus in 2009
  • Reflecting on the failure of AIG
  • Gramm-Leach-Bliley Act
  • Henry Paulson and Glass–Steagall
  • The Eurodollar system going parabolic in the 2000s
  • Banks manipulating regulations
  • FOMC understanding of Eurodollars
  • Big Picture end game of the Eurodollar system

We strongly recommend that you download the chart book that accompanies this interview, and Erik and Jeff will refer to it throughout the interview. Registered users here at MacroVoices.com already received the download link in your research roundup e-mail. If you haven’t already registered, click the red “Subscribe for FREE” button on the top right side of the home page, and register. Once logged in, click “Research Library” and Guest Publications near the top of the page. From there you can download the PDF.

Get embed code for this episode. | For other embed code options click here. | Download the audio MP3 File (74.52 MB) | Download the podcast transcript:   pdf Here (542 KB)

You may also be interested in:

Eurodollar University Part 1

Eurodollar University Part 2

  audio Eurodollar University Part 3 (35.02 MB)

Grant WilliamsErik Townsend welcomes Grant Williams to MacroVoices. Erik and Grant discuss:

  • Outlook for the US dollar
  • Update on the Petroyuan oil contract 
  • Edge of the Cliff 
  • Inflation Risks on the Horizon?
  • When is the time for gold?
  • Thoughts on cryptocurrencies
  • Considerations on interest rates and yields
  • Australian real estate
  • Perspective on China’s credit bubble
  • Writing is on the wall in Europe

Get embed code for this episode. | For other embed code options click here | Download the audio MP3 File (66.34 MB) | Download the podcast transcript:   pdf Here (615 KB)

MACRO VOICES is presented for informational and entertainment purposes only. The information presented in MACRO VOICES should NOT be construed as investment advice. Always consult a licensed investment professional before making important investment decisions. The opinions expressed on MACRO VOICES are those of the participants. MACRO VOICES, its producers, and hosts Erik Townsend and Patrick Ceresna shall NOT be liable for losses resulting from investment decisions based on information or viewpoints presented on MACRO VOICES.

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